Thursday, December 2, 2010

DailyMarkets.com - Toyota’s Rough Ride, Monthly US Sales Drop

DailyMarkets.com - Toyota’s Rough Ride, Monthly US Sales Drop

Toyota’s Rough Ride, Monthly US Sales Drop

Posted: 02 Dec 2010 06:04 PM PST

12/03/10 Toyota motor Co. announced that its US sales dropped 3% in November, making it the only major automaker to report a sales drop for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Why Obama Should Extend The Bush Tax Cut To Everyone — And Why That’s Exactly His Proposal, Stupid

Posted: 02 Dec 2010 05:54 PM PST

The President should propose that the Bush tax cuts be extended for EVERYONE — but only on their first $250,000 of income.
Hey, wait a minute. That's exactly what he is proposing. EVERYONE gets a continuation of the Bush tax cuts on the first $250,000 of their incomes. If your income is $251,000, you'll get the Bush tax cut on $250,000 of it. Only $1,000 would be taxed at the higher Clinton rate.
So why have Republicans been able to say Obama and the Democrats don't want to extend the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Free Market Capitalism: Best Path To Longer Life

Posted: 02 Dec 2010 05:38 PM PST

HT: Coyote Blog via Pete … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Picks For Friday: Citigroup, GigaMedia, Atmel

Posted: 02 Dec 2010 05:05 PM PST

( click to enlarge )
Citigroup Inc. (NYSE:C) has proven its bullishness. The stock has been moving with large volume over the past three trading sessions breaking several resistance lines. This definitely is a very bullish sign for this stock. The technical chart shows the momentum indicators have turned up and the RSI is on the rise. For the short term the stock should still continue to go up. A close above $4.52 would have positive implications and could push the stock to the 4.90-5.07 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

If You Think I’m Bearish…

Posted: 02 Dec 2010 04:37 PM PST

…you should hear what the American public had to say about the economy in a new poll by StrategyOne [italics mine]:
Despite some positive economic news in recent days, most Americans remain deeply concerned about the state of the U.S. economy. The StrategyOne Annual Holiday Shopping Index found that 79% believe the U.S. remains in a recession; only 10% rate the economy as excellent or good; and just eight percent think the economy will be much better by next year. The public … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: US Employment Report, ISM Services Index

Posted: 02 Dec 2010 03:30 PM PST

12/03/10 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Truth About The Federal Budget Deficit That Noone Is Willing To Tell

Posted: 02 Dec 2010 03:13 PM PST

Rarely before in American history has there been more disconnect between Washington and the rest of the nation. Washington is obsessing about the projected federal budget deficit. Everyone else in America is worried about jobs.  
To get jobs back we'll need more federal spending, not less — at least over the next few years. Consumers can't and won't spend, banks can't and won't lend, big companies won't invest in new capacity, and state and local governments are broke. Unless … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: ANF, PEP

Posted: 02 Dec 2010 02:24 PM PST

12/02/10 The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Del Monte’s Top-Line Declines

Posted: 02 Dec 2010 01:35 PM PST

Del Monte Foods Co. (NYSE:DLM), producer, distributor and marketer of branded pet products and food products posted results for the second-quarter of 2011, a 13-week quarter ending on October 31, 2010.

Quarterly Details

San Francisco-based Del Monte's earnings grew 32.2% year over year to 41 cents from 31 cents a share in the year-ago period and missed the Zacks Consensus Estimate by 6 cents. Profit was primarily driven by higher income from continuing operations.

For fiscal 2011, EPS from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rating Actions On Travelers

Posted: 02 Dec 2010 01:35 PM PST

The financial strength ratings (FSR) of A (Excellent) and issuer credit ratings (ICR) of "a" of Travelers Auto Insurance Co. of New Jersey and Travelers of New Jersey Group, wholly owned subsidiaries of The Travelers Companies Inc. (NYSE:TRV), have been withdrawn by A.M. Best Co. The rating agency has assigned an NR-5 (Not Formally Followed) to the FSRs and an "nr" to the ICRs.
The rating withdrawal follows the merger of Travelers Auto Insurance Co. of New Jersey with Fidelity and Guaranty … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Expeditors Downgraded On Low Yields

Posted: 02 Dec 2010 01:35 PM PST

We are downgrading our long-term recommendation on Expeditors International of Washington's (NASDAQ:EXPD), a third-party logistics provider, to Neutral from Outperform on contracting gross margins. Currently, the stock has a Zacks #3 Rank (Hold).
The company's third quarter earnings surpassed the Zacks Consensus Estimate by 3 cents and the year-ago earnings on strong volumes. Reported revenue was also higher than the Zacks Consensus Estimate. Despite an increase in air and ocean volumes, gross … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Deere Hikes Dividend Again

Posted: 02 Dec 2010 01:05 PM PST

Deere & Co. (NYSE:DE) in an effort to return more value to its shareholders hiked its quarterly dividend by 5 cents to 35 cents. This translates to a 17% increase from the prior dividend of 30 cents. The increased dividend will be paid on February 1, 2011, to stockholders of record on December 31, 2010. Deere's shares jumped 1.9% to $76.14 on the news.
The dividend increase does not come as a surprise. During the earnings call, on November 24, management had stated that it intends to deliver … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Motorola To Buy 4Home Inc.

Posted: 02 Dec 2010 01:05 PM PST

Motorola Mobility Inc., a subsidiary of Motorola Inc. (NYSE:MOT) agreed to acquire Sunnyvale based 4Home Inc. for an undisclosed amount. 4Home provides software and services relating to energy management, home security and monitoring as well as media and entertainment management. The deal is expected to close by the end of the year.
4Home is expected to help Motorola Mobility in the long run by tapping into new business segments, such as cable, as well as adding significant resources to support … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Northern Trust Acquires Waterline

Posted: 02 Dec 2010 01:05 PM PST

Chicago-based Northern Trust Corporation (NASDAQ:NTRS) has acquired Los Angeles-based Waterline Partners, LLC, an investment advisory firm, catering to the needs of high profile clients. The company, however, did not disclose any financial terms of the transaction.
The acquired firm will be integrated with Northern Trust's Personal Financial Services business unit and will boost the company's client servicing capabilities. The entire team of Waterline, including its chief investment officer and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Central Florida Gets Athenahealth

Posted: 02 Dec 2010 12:35 PM PST

Leading medical billing and records software provider Athenahealth Inc. (NASDAQ:ATHN) has been chosen as a preferred vendor for electronic health record ("EHR") solutions by the Central Florida Health Information Technology Initiative ("CFHITI").
CFHITI is the Regional Extension Center ("REC") of the University of Central Florida ("UCF"). The entity was created through the collaboration between UCF and the Central Florida Regional Health Information Organization ("CFRHIO").
UCF … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sierra Monitor (SRMC) KAUST Reveals The Potential Of Fieldserver

Posted: 02 Dec 2010 12:35 PM PST

Ken Nagy, CFA

Sierra Monitor Corporation (SRMC) designs and develops hazardous gas monitoring devices for the protection of personnel and facilities in industrial work places. Through its subsidiary FieldServer Technologies the firm has branched into protocol translation technology, which enables machine to machine (M2M) communication in energy and building automation applications. This high growth business should complement the gas detection business, while not sacrificing market or … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Marathon Completes Asset Deal

Posted: 02 Dec 2010 12:35 PM PST

Leading integrated energy company Marathon Oil Corporation (MRO) announced that its ancillary Marathon Petroleum Company LP has completed the sale of most of the company's Minnesota downstream assets. The deal was signed in October 2010, with two private equity firms, ACON Investments LLC ("ACON") and TPG Capital L.P. ("TPG").
ACON Investments and TPG Capital formed a stand-alone company Northern Tier Energy LLC to manage the acquired assets.
Marathon received a total consideration of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Auto Sales Revive Strongly In November

Posted: 02 Dec 2010 12:05 PM PST

The light vehicle sales in the U.S. during November rose 17% to a seasonally adjusted annual rate of 12.3 million units, signaling a strong recovery in the industry. All the major automakers, except Toyota Motor Corp. (NYSE:TM), posted double-digit gain in sales. The industry witnessed a rebound in demand for sports utility vehicles (SUVs) and pickups during the month, which had been stunted as the global crisis set … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rio Tinto On An Investment Spree

Posted: 02 Dec 2010 12:05 PM PST

Rio Tinto Plc (NYSE:RIO) is on an investment spree to enhance production driven by the gradual market recovery. In July 2010, Rio Tinto announced an investment plan of $5.1 billion over five years in the Pilbara region to boost the production capacity by more than 50%. The production capacity is supposed to increase to 333 million tons per annum (Mt/a) in five years.
Rio Tinto recently, announced plans to invest $1.2 billion in its Brockman 4 and Western Turner Syncline mines in the Pilbara region … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chunghwa Telecom Remains Neutral

Posted: 02 Dec 2010 12:05 PM PST

Our long-term recommendation for Chunghwa Telecom Co. Ltd. (NYSE:CHT) is Neutral, which means the stock will perform mostly in line with the broader marker. Chwnghwa declared solid financial results for the third quarter of 2010 with net income soaring 9.5% year over year.
Chunghwa is the market leader in Taiwan for traditional voice and dial-up services, VoIP, IPTV, broadband and mobile segments. Aggressive roll-out of fiber-to-the- home and 3G wireless networks place Chunghwa ahead of its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: Pros And Cons Of The NFP

Posted: 02 Dec 2010 11:55 AM PST

Tomorrow's Non-Farm Payrolls may cause plenty of sway on the market. Let's assess the situation of whether or not the NFP numbers have the power to beat the expectations of 145,000.

Pro's
1) ADP Employment Rose by 93,000 from previous month.
2) Challenger Job cuts is at the best level in a year and a half.
3) There is Zero Strike Activity.
4) Unemployment Claims Dropped to 436k from 450k four weeks ago.
5) Continuing Claims dropped to 4270k from 4500k four week ago.
6) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Virgin Media Innovates TV Offerings

Posted: 02 Dec 2010 11:35 AM PST

Virgin Media Inc. (NASDAQ:VMED), the second largest pay-TV service provider of the U.K. will start offering a next-generation Web TV platform to its subscribers from mid-December 2010.
This innovative converged digital TV platform will provide improved graphics, on-demand video content, catch-up TV service, web-based applications including games and personal video recorder. In a nutshell, Virgin Media's new product will integrate the Internet and live TV on one screen through fiber-optic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FDA Clears Quest’s Simplexa Test

Posted: 02 Dec 2010 11:35 AM PST

Quest Diagnostics (NYSE:DGX), a leading player in diagnostics testing, received 510 (k) clearance from the US Food and Drug Administration (FDA) for its Simplexa Flu A/B & RSV test to run on 3M's (NYSE:MMM) Integrated Cycler. This test, developed by Quest's Focus Diagnostics business is meant to detect influenza A, influenza B and RSV virus infections.
This is the first cleared molecular test for detecting flu viruses that will not require a confirmatory test. Moreover, the Simplexa test … [visit site to read more] or compare Best Credit Cards and Best CD Rates

People’s United Closes Acquisitions

Posted: 02 Dec 2010 11:35 AM PST

People’s United Financial Inc. (NASDAQ:PBCT) has closed the acquisitions of LSB Corporation and Smithtown Bancorp Inc. The acquisitions are in line with the company's strategy of expanding its presence in its markets.
Acquisition Details
North Andover, Massachusetts-based LSB Corporation is an $800 million bank holding company. Its subsidiary River Bank has seven branches – five in north of Boston and two in southern New Hampshire. People's United acquired LSB Corp. in an all-cash transaction, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Launch Of Optimism?

Posted: 02 Dec 2010 11:17 AM PST

Let me take you back to the sweltering days of last summer. The market peaked last April and declined 16% by the end of July. Some looked at a chart of the S&P 500 and saw a top similar to what had happened in 2008, just before the Financial Crisis fully bloomed. CNN was reporting on July 1 that “Going back to World War II, a decline of 15% off the highs has often turned a correction into a Bear Market — a drop of 20% to 30% — according to Standard & Poor’s chief investment … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Align Downgraded To Neutral

Posted: 02 Dec 2010 11:05 AM PST

Recently, we downgraded Align Technology (NASDAQ:ALGN) to Neutral with a target price of $18.00.
Align manufactures and markets the Invisalign system, a proprietary method for treating malocclusion or misalignment of teeth. The system corrects malocclusion using some nearly invisible and removable appliances that help to gently move the tooth to a desired final position.
During the third quarter, Align reported a 21% year-over-year increase in revenue to $95.9 million (exceeding the company's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Boeing Gets More Orders For 737

Posted: 02 Dec 2010 11:05 AM PST

The Boeing Company (NYSE:BA) announced that it received an order from Copa Airlines to deliver 22 Next Generation 737-800's. The value of these 22 airplanes is $1.7 billion at Boeing’s list price. The order has an additional clause for 10 options, which, if exercised, will increase the order size to 32 airplanes and will cost $2.6 billion at list price. The airplanes are expected to be delivered between 2015 and 2018.
Boeing had earlier received orders for its Next Generation 737-800 from Copa … [visit site to read more] or compare Best Credit Cards and Best CD Rates

California Pizza Kitchen In China

Posted: 02 Dec 2010 11:05 AM PST

Los Angeles-based California Pizza Kitchen Inc. (CPKI) plans to expand in China and has opened its first company owned restaurant in the nation’s largest city, Shanghai.
One of the leading casual dining restaurant chains has also opened its first international office in China to work with franchisees and to support company growth in that country. Moreover, both these initiatives indicate the company's intension to strengthen its footprint in the Asia Pacific region over the long term.
The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Rebound Continues

Posted: 02 Dec 2010 10:57 AM PST

12/02/10 The euro currency continued its rebound today on growing optimism the ECB will take steps to stem the sovreign debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“For A Sustained Recovery…need Stronger Leadership”

Posted: 02 Dec 2010 05:41 AM PST

12/02/10 ICAEW’s Michael Izza weighs in on concerns about the exposure of UK banks to the Euro-zone sovereign debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ericsson Acquires GNDT Assets

Posted: 02 Dec 2010 10:35 AM PST

LM Ericsson Telephone Company (NASDAQ:ERIC) is acquiring the assets of Guangdong Nortel Telecommunication Equipment Company Ltd (GDNT). The transaction is structured as an asset sale for $50 million on a cash and debt free basis.
GDNT is a research, development and manufacturing organization based in China and a supplier of Ericsson following the acquisitions of the CDMA and GSM businesses of Nortel.
GDNT was founded in 1995 as a joint venture between Nortel and local Chinese corporations and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lower Home Sales: The Tax Credit Dent

Posted: 02 Dec 2010 10:35 AM PST

So paperwork flaw can be let off the hook, it seems. We had earlier been worried that the chaos in foreclosure documentation would lead to lower home sales.
Data brought out by RealtyTrac, the leading online marketplace for foreclosure properties, discloses that the sale of U.S. foreclosed properties fell 25% sequentially and 31% year over year in the third quarter of 2010. However, the real offender here is the withdrawal of tax credits by the government, or so the site claims.
RealtyTrac has … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lower Home Sales: The Tax Credit Dent

Posted: 02 Dec 2010 10:35 AM PST

So paperwork flaw can be let off the hook, it seems. We had earlier been worried that the chaos in foreclosure documentation would lead to lower home sales.
Data brought out by RealtyTrac, the leading online marketplace for foreclosure properties, discloses that the sale of U.S. foreclosed properties fell 25% sequentially and 31% year over year in the third quarter of 2010. However, the real offender here is the withdrawal of tax credits by the government, or so the site claims.
RealtyTrac has … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EIA: Oil, Gasoline Stocks Rise

Posted: 02 Dec 2010 10:35 AM PST

The U.S. Energy Department’s weekly inventory release showed a surprise climb in crude stockpiles, while distillate supplies posted a smaller-than-expected draw. The agency's report further added that refinery utilization dropped sharply and gasoline inventories climbed last week.   
The Energy Information Administration ("EIA") Petroleum Status Report – that contains data for the previous week ending on Friday – outlines information regarding the weekly change in petroleum … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Desire Petroleum Confirms Rachel North Well Is Next Falklands Oil Discovery

Posted: 02 Dec 2010 10:30 AM PST

Desire Petroleum (LON:DES) , the oil and gas company operating in North Basin of the Falkland Islands, said this morning that its 14/15-2 Rachel North well had reached a total depth of 3052 metres and that preliminary data indicates that the well is an oil discovery.

The company has run an initial suite of wireline logs and this together with the drilling data indicates that the well encountered a 349 metres gross interval from 2621 metres to 2970 metres of sands and shales with … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Four ETFs Impacted By Russia’s World Cup Victory

Posted: 02 Dec 2010 10:17 AM PST

Russia recently won the right to host the 2018 World Cup, one of the world's largest sporting events, which is expected to boost the nation's economy and provide positive price support to the Market Vectors Russia ETF (RSX), the SPDR S&P Russia (RBL), the iShares MSCI Russia Capped Index (ERUS) and the SPDR S&P BRIC 40 (BIK).
In preparation for the event, Russia is expected to significantly ramp up infrastructure spending over the next few years.  It is expected that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR/USD And A Reverse “Naked” Head And Shoulder

Posted: 02 Dec 2010 10:08 AM PST

EUR/USD and a Reverse "Naked" Head and Shoulder
Resistance 1:  1.32; Resistance 2: 1.33; Resistance 3: 1.3450
Support 1: 1.3150 (neckline); Support 2: 1.3050 (shoulder pivot); Support 3: 1.2970 (head pivot)
Lower supports: 1.2750, 1.26

EUR/USD 12/2/2010

The EUR/USD created a reverse head and shoulder, with the head pivot at 1.2970 and the shoulder pivots near 1.3050, and the neckline at 1.3150 area, which the market broke above. It is naked because it is not confirmed by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Conoco: First LNG Shipment From QG3

Posted: 02 Dec 2010 10:05 AM PST

ConocoPhillips (NYSE:COP) announced the first shipment of liquefied natural gas (LNG) from the Qatargas 3 (QG3) joint venture. The cargo departed from Ras Laffan Industrial City, Qatar, bound for the Canaport LNG Terminal in Saint John, New Brunswick, Canada.
This is an important development for Conoco as it was actively involved in the QG3 joint venture. Formed in 2005, the joint venture is jointly owned by ConocoPhillips (30%), Qatar Petroleum (68.5%), and Mitsui (1.5%).
The scope of the venture … [visit site to read more] or compare Best Credit Cards and Best CD Rates

McDermott Upgraded To Neutral

Posted: 02 Dec 2010 10:05 AM PST

We have upgraded energy-focused engineering and construction firm McDermott International (MDR) to Neutral from Underperform.
Incorporated in 1959, Houston, Texas-based McDermott primarily serves the worldwide offshore oil and gas field developments, including the front-end design and detailed engineering, fabrication and installation of offshore drilling and production facilities, as well as installation of marine pipelines and subsea production systems.
Additionally, the company provides … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Monster Employment Index Increases By 13% In November: 10th Straight Month Of Annual Growth

Posted: 02 Dec 2010 09:24 AM PST

The Monster Employment Index for the U.S. was released today with the following highlights:

1. Compared to last November, online job demand was up by 13% this year, and November marked the tenth consecutive month of a positive annual growth rate in the index, and the eighth straight month of double-digit growth (see chart above).   

2. 17 of the 20 industries monitored by the Index showed positive annual growth trends.

3. All 28 metro markets recorded positive annual growth in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

D.C.’s Mom ‘n’ Pops Aren’t Afraid Of Walmart; They’re Afraid Of Wal-Mart’s Greedy Customers

Posted: 02 Dec 2010 08:42 AM PST

From today’s Washington Examiner, an article I have edited slightly and re-titled “D.C.’s Mom ‘n’ Pops Afraid of Walmart’s Cost-Conscious Customers”:

The District’s family-owned businesses are worried that greedy consumers who shop at Walmart for its everyday low prices will kill their livelihoods if the retailer forges ahead with plans to open four locations in the coming years. 

“I think we’ve got enough local grocery stores around,” said Jeremy Frost, manager of 5th Street Ace … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 12.2.10

Posted: 02 Dec 2010 06:46 AM PST

The morning news notes as prepared by TL…initial jobless claims, Obama’s deficit commission, Obama administration and off short drilling, the European Financial Stability Facility, leading indicators of global manufacturing improving, ISM v. GDP v. Payrolls ( a nice graph), and Fed officials urge Congress to stimulate the economy.
 

“Morning News Notes: December 2, 2010″

click … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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